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Cool longread on some dude who scammed the lottery out of millions
| pale bawdyhouse | 03/24/18 |
| Razzle-dazzle Kitty Cat Indian Lodge | 03/24/18 |
| Turquoise Hospital | 03/24/18 |
| Razzle-dazzle Kitty Cat Indian Lodge | 03/24/18 |
| Turquoise Hospital | 03/24/18 |
| pungent box office | 03/24/18 |
| Turquoise Hospital | 03/24/18 |
| titillating carmine point | 03/25/18 |
| Exhilarant ultramarine mediation house | 03/25/18 |
| Turquoise Hospital | 03/24/18 |
| Bistre Philosopher-king | 03/24/18 |
| bat shit crazy milky theater | 03/24/18 |
| spectacular scarlet garrison | 03/24/18 |
| Mischievous range | 03/24/18 |
| hyperactive onyx half-breed weed whacker | 03/24/18 |
| pungent box office | 03/25/18 |
| aphrodisiac snowy nibblets | 03/25/18 |
| cream arrogant alpha | 03/25/18 |
| titillating carmine point | 03/25/18 |
| Exhilarant ultramarine mediation house | 03/25/18 |
| Concupiscible state | 03/25/18 |
Poast new message in this thread
Date: March 24th, 2018 2:33 PM Author: pale bawdyhouse And the azns he battled with along the way
http://highline.huffingtonpost.com/articles/en/lotto-winners/ |
Date: March 24th, 2018 2:35 PM Author: Razzle-dazzle Kitty Cat Indian Lodge I read that, he was 180. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678028) |
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Date: March 24th, 2018 2:36 PM Author: Turquoise Hospital Cliffs bro? (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678033) |
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Date: March 24th, 2018 2:41 PM Author: Razzle-dazzle Kitty Cat Indian Lodge Minnesota had a lottery game that had a flaw related to max payouts, every time the payout got above $2 million the expected value of a $1 ticket was greater than $1. So this grandpa shopkeeper and his wife basically start a hedgefund to manually buy hundreds of thousands of tickets. The game in Minnesota gets shut down but they notice that Massachussets has a similar game so they start going there whenever the drawdown is triggered. But it turns out there are two other cartels operating there, one at MIT. The MIT team actually starts manipulating the lottery to keep the other cartels out. Grandpa figures out what's going on so it becomes kind of a cat and mouse game. The Massachussets lottery ignores it because they are profiting and it becomes a huge scandal.
The funniest part was they had to rent a storage locker to store all losing tickets for tax purposes. |
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Date: March 24th, 2018 2:49 PM Author: Turquoise Hospital 180 have to read this now ty (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678124) |
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Date: March 24th, 2018 2:59 PM Author: pungent box office 180 but please copy and paste cuz fuck huffpo (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678193) |
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Date: March 24th, 2018 3:00 PM Author: Turquoise Hospital The story is great but jfc at the lib puff shit (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678200) |
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Date: March 25th, 2018 6:14 AM Author: titillating carmine point Michigan. And they used their barn. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35682288) |
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Date: March 25th, 2018 6:48 AM Author: Exhilarant ultramarine mediation house The larger payouts when the jackpot exceeds $2 million are not a "flaw". It did exactly what it was designed to do, which is to generate buzz and lure more people into playing.
Who the larger payouts went to wasn't a concern for the state -- they knew exactly what was going on and explicitly gave permission for the individual ticket vendors to sell mass quantities.
The state was always making their profits off the ticket sales, even from the "cartels". |
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Date: March 24th, 2018 2:52 PM Author: Turquoise Hospital "All of a sudden, he experienced the puzzle-solver’s dopamine hit of seeing a solution shine through the fog"
Fuck huffpo libs for bringing reductionist science into a fucking story like this. |
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Date: March 24th, 2018 3:01 PM Author: Bistre Philosopher-king I ducking love science (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678208) |
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Date: March 24th, 2018 3:32 PM Author: bat shit crazy milky theater 180 read thanks (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678403) |
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Date: March 24th, 2018 3:58 PM Author: spectacular scarlet garrison Good read (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678517) |
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Date: March 24th, 2018 4:31 PM Author: Mischievous range 180 story ty (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678690) |
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Date: March 24th, 2018 4:33 PM Author: hyperactive onyx half-breed weed whacker c&p (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678705) |
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Date: March 25th, 2018 2:21 AM Author: pungent box office (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35681942) |
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Date: March 25th, 2018 5:23 AM Author: aphrodisiac snowy nibblets How much did the MIT group make? (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35682261) |
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Date: March 25th, 2018 5:26 AM Author: cream arrogant alpha LJL at efficient markets such that even a lottery scam gets exploited by too many people. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35682262) |
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Date: March 25th, 2018 6:14 AM Author: titillating carmine point 180 (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35682289) |
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Date: March 25th, 2018 6:36 AM Author: Exhilarant ultramarine mediation house No one scammed the lottery (the state/operators of the lottery).
The Cash Winfall games had essentially two different phases. A normal phase that runs like a normal lottery (with shitty expected returns at 0.6). If no one hit the jackpot after accruing $2MM, that money becomes a "Winfall". The expected return in the Winfall phase was something like 1.15.
If anyone was "scammed" it was the earlier groups of people paying in the Winfall amount. The lottery is always making their share of the money, even off people who bought during the second phase. |
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Date: March 25th, 2018 12:52 PM Author: Concupiscible state Great read. 180 find, tyty. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35683608) |